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									Strategic Business Planning for Commercial Producers



   How Are Vision & Mission
   Statements Used to Set the
   Strategic Direction?
Strategic Business Planning for Commercial Producers


  Vision/Mission Statements
  • Statements that explain who we are
     – Type of organization
     – Products/services
     – Needs we fill
  • Statements that explain our direction, our
    purpose, our reason for being
     – What difference do we make?
  • Statements that explain what makes us
    unique
     – Values
     – People
     – Combination of products and services
Strategic Business Planning for Commercial Producers


  Business Vision Statement
   A statement that clearly defines the
    firm’s “reason” for being in business
      – Should significantly stretch the resources
        and capabilities of the farm
      – Should inspire people in the organization
        to achieve things they never thought
        possible
      – Should unite people in the organization
        toward the pursuit of one common goal
Strategic Business Planning for Commercial Producers


  Business Vision Statement
    • A guiding philosophy
    • Consistent with organizational value
    • Influenced by the strengths and
      weaknesses of the business
Strategic Business Planning for Commercial Producers

   Components of a Vision
   Statement
     • Core ideology
         – Core Values - timeless guiding principles
         – Core Purpose - reason for being
     • Envisioned future
         – Big Hairy Audacious Goals (BHAG) -
            clearly articulated goals
         – Vivid description - a graphic description of
           what success and the future will be like
     • Recognition of service to stakeholders
         – Owners/creditors
         – Employees
         – Customers
Strategic Business Planning for Commercial Producers




     Mission Statements
     • The mission statement of an
       organization is normally short, to the
       point, and contains the following
       elements:
         – Provides a concise statement of why the
           organization exists, and what it is to
           achieve;
         – States the purpose and identity of the
           organization;
         – Defines the institution's values and
           philosophy; and
         – Describes how the organization will serve
Strategic Business Planning for Commercial Producers




     Vision vs. Mission

     • The vision is more broad and
       future oriented – the goal on the
       horizon
     • The mission is more focused –
       how you will get to the horizon
Strategic Business Planning for Commercial Producers

  Examples of Vision
  Statements
   Ben & Jerry’s
      Product: To make, distribute, and sell the finest
        quality all natural ice cream and related products
        in a wide variety of innovative flavors made from
        Vermont dairy products.
      Economic: To operate the Company on a sound
        financial basis of profitable growth, increasing
        value for our shareholders and creating career
        opportunities and financial rewards for our
        employees.
      Social: To operate the Company in a way that
        actively recognizes the central role that business
        plays in the structure of society by initiating
        innovative ways to improve the quality of life of a
Strategic Business Planning for Commercial Producers

  Examples of Mission
  Statements
  Wyffels Hybrids
  Wyffels Hybrids is a
  regional agricultural
  seed company
  providing elite corn
  hybrids, high oil corn
  seed blends, and
  premium alfalfas to
  farmers of the U.S.
  midwest.
Strategic Business Planning for Commercial Producers


  Examples of Vision Statements

  Cornelius Farms
  To be a farm business that farms and/or manages
   land to best satisfy the landowner. To be one of
   the very best farmers and farm managers in our
   region. To rent farm land by striving to obtain
   maximum income per acre, thus creating
   maximum profits for the landlord and tenant,
   through the use of distinguished management of
   the land. We also have the motto that
   “appearance is everything,” that goes for our
   equipment to your land. We make every effort
   to ensure that the landowner’s land is virtually
   weed free and well kept.
Strategic Business Planning for Commercial Producers


  MBC Farms
  Vision
  MBC Farms will be an agribusiness focused on the profitable,
     progressive, and sustainable production of premium quality
     identity-preserved grains, oilseeds, and dairy products. MBC
     Farms will be a respected, responsible neighbor and an asset
     to our community. We prefer a rural lifestyle and are willing to
     embrace change as a means to that end. MBC Farms provides
     the opportunity for our children and employees to participate
     in production agriculture either as owners and/or managers of
     the business.
  Mission
  MBC Farms is a producer of grains, oilseeds, specialty crops,
     and milk. Our mission is to be recognized by our business
     associates and competitors as one of the top producers in our
     area and to make sure that productivity translates into
     prosperity and growth for everyone involved with our farm.
Strategic Business Planning for Commercial Producers




     Exercise
      • Spend some time thinking about the
        vision and mission of your farm.
      • The exercises have a set of questions
        that will help frame your thinking.
      • Begin writing things down today; you
        can revise and work on it more later.
      • Remember developing vision and
        mission statements are not immediate
        occurrences; they take time, reflection
        and practice.
Strategic Business Planning for Commercial Producers




   Strategic Business Planning for
   Commercial Producers

								
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